Page 47 - 86395_CCB - 2024 Annual Report (web)
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Internal control and
governance framework
Risk management is governed within the
corporate governance structure detailed on
page 42, with ultimate ownership at Board
level via the Board Risk & Compliance
Committee. In addition, the Board Audit
Committee oversees third line review
of all aspects of risk management, and
the Nominations & Governance and
Performance & Remuneration Committees
have a role in the management of conduct
risk, including risk culture.
An explanation of the Bank’s committees
and sub‑committees is set out below:
Executive Committee
The Executive Committee is chaired by
the CEO and its members include all the
Bank’s Executive officers and General
Counsel. The Executive Committee is the
Bank’s principal Executive Committee and
collectively supports the Chief Executive in
developing and implementing the Bank’s
strategy as agreed by the Board, monitoring
the Bank’s performance, and agreeing any
actions that are required to manage issues
that affect the Bank.
Other Executive Committee
sub‑committees include:
Asset & Liability Committee
Business Change Committee
Credit Committee
Credit Approvals Committee
Customer and Product Committee
ESG Steering Committee
Impairment & Provisions Committee
Risk Management Committee
Model Governance Committee
The Company Secretary is responsible to the
Board for ensuring compliance with corporate Asset and Liability Committee
governance requirements. The Board has The Asset and Liability Committee is
access to the Company Secretary, or the chaired by the CFO and is responsible for
Assistant Company Secretary individually and reviewing and managing all aspects of the
collectively during 2024. As well as the support Bank’s exposure to financial risks, including
of the Company Secretary, any Director may strategic risk, capital adequacy, liquidity and
take independent professional advice at the funding, tax, and market risks.
Company’s expense in the furtherance of their
duties, where considered necessary.
Business Change Committee
Principal accountant fees and services The Business Change Committee is chaired
by the CTO (Chief Transformation Officer)
An analysis of fees for professional services and is responsible for managing effective
provided by PricewaterhouseCoopers LLP, delivery of the Bank’s change agenda,
the Company’s external auditors for the year assessing all new business investment
ended 31 December 2024, are set out in Note cases and change request and ensuring
8 to the Bank’s Financial Statements.
benefits realisation.
